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VANCOUVER, Aug. 13, 2015 /CNW/ - 3TL Technologies Corp. (TSXV:TTM) ("3TL" or the "Company"), announces that it has closed a non-brokered private placement of 3,500,000 units of the Company (the "Units") at $0.20 per Unit for gross proceeds of $700,000 (the "Offering").
Each Unit consists of one common share in the capital of the Company (a "Share") and one share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share in the capital of the Company (a "Warrant Share") at a price of $0.20 per Warrant Share for a period of 18 months from the closing of the Offering.
The Company is entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date a news release is issued announcing the accelerated expiry date in the event that the volume weighted average price of the Shares has been equal to or greater than $0.30 for any five consecutive trading days after four months and one day after closing of the Offering.
The Company paid a finder's fee on the Offering within the amount permitted by the policies of the TSX Venture Exchange (the "Exchange"). All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The net proceeds from the Units will be used for general corporate working capital.
About 3TL Technologies Corp.
The Company's core product Platform³, launched in early 2014, is a consumer-to-consumer content marketing, data mining, loyalty and rewards platform used by brands to engage consumers on the web or mobile phone through digital and social channels. Platform³ enables brands to facilitate the distribution of relevant brand content through friend-to-friend sharing via social media. Platform³ collects and analyzes data to determine which consumers are most valuable to a brand based on their level of social media brand engagement. The platform also incentivizes and rewards consumers for sharing brand content on their personal social channels. Customers access Platform³ through a cloud-based subscription service. 3 Tier Logic has provided marketing technology solutions to Abercrombie & Fitch, Anthony Robbins, Best Buy, Hollister, MGM Resorts International, Maestro Dobel Tequila, Monster Beverage Corporation, Oakley, Pennsylvania Real Estate Investment Trust, Playtex, Ralph Lauren, Red Bull, St. Louis Rams, Universal Music, US Performing Arts Camps, and dozens of other companies. For more information, visit www.3tierlogic.com.
For additional information about the company please visit www.sedar.com. The TSX Venture Exchange Inc. has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds and the results of financing efforts, - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE 3TL Technologies Corp
For further information: 3TL Technologies Corp., Robert Craig, Chief Executive Officer, (604) 639-5441, [email protected]